rate: ARM's are BACK....!
- 07/29/09 01:50 AM
As the overall mortgage market has become exceptionally conservative over the past couple of years, so too have borrowers. All you have to do is just mention the word "adjustable" and "rate" in the same sentence and from my side of the desk you will find looks of fear on the other. While it is true that many borrowers bought way too much house with the (ab) use of an interest-only adjustable rate mortgage, the ARM product is still a good choice. For SOME borrowers. Many of my customers will never live in their homes for more than 5 - 6 … (1 comments)
As the overall mortgage market has become exceptionally conservative over the past couple of years, so too have borrowers. All you have to do is just mention the word "adjustable" and "rate" in the same sentence and from my side of the desk you will find looks of fear on the other. While it is true that many borrowers bought way too much house with the (ab) use of an interest-only adjustable rate mortgage, the ARM product is still a good choice. For SOME borrowers. Many of my customers will never live in their homes for more than 5 - 6 … (1 comments)
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